Ig Design Share Discussion Threads

[allstar_07] 05/6/2023 15:20

Lower margins, i presume not lower rates

[se81] 05/6/2023 14:28

Refinanced at a lower rate? Thats pretty impressive- how have they managed that?

[rcawthra007] 02/6/2023 10:23

Blackhorse, please don't come back on here you absolute bellend.

[blackhorse23] 01/6/2023 17:19

Switched to CURY , excellent timing , will be reversing now

[time 2 retire] 01/6/2023 11:08

Death by a thousand cuts here!
At this rate we'll be back at penny stock status by time of the results but hey ho, have been here before!
I'll continue to hold.

[wall street trader] 30/5/2023 10:10

I sliced half mine at the recent top ( good timing for once)have bought them back today

[volsung] 22/5/2023 11:04

Topped up here.
Due a wee rise

[darrin1471] 19/5/2023 20:18

ottrott. I happy to bounce ideas.
Previous high of around £8 was built on clearing debt, growth and the prediction of future growth. This is now a recovery stock without any growth currently. I was looking to reduce between £2 and £4 on execution of the previous plan.
I still think £4 over 3-4 years is doable if all things remain equal, which they wont.
However the next 6 months has headwinds vs last year and what was behind the "recently deteriorated trading, and very limited pricing expectations for Christmas 2023 in the United Kingdom".
IGR fell nearly 50% after 08/22 highs and is today 20% off YTD highs.
"Lance Burn has agreed to remain in role as Interim Chief Operating Officer through to 31 October 2023". What happens then? How much of the US management has been changed and are any of the customer relationships effected by the change in US personnel?
"management's aspiration to restore pre-Covid operating profit margins by the end of FY25". That is "end of FY25" which by my reading is around 01/01/2025, for sales taken for delivery in Christmas 2025. Adjusted operating margin was 7.3% in FY 2019.
Lots of outlook clarification needed on June 20th and during the Q&A.

[ottrott] 19/5/2023 17:15

darrin1471: "FY24 to present demand and pricing challenges...Nevertheless, it expects to make progress towards its FY25 aspiration." If op margin moves from the present 1.8% towards the pre covid 6% that will have a dramatic effect on profitability. If this turns out to be the case then even if H1 24 revs are lower than H1 23, profits are likely to be higher.
I think Lance Burn and the present management were singing from the same hymn sheet so see no change in the strategy of bringing DGA op margins in line with DGI. In fact in the last presentation the CEO suggested that margins in the US should in theory be higher than DGI.

So in summary I think it is the change in margins not rev that is most important here. That's what I'll be looking at on 20th June.

I guess time will tell. Good luck anyway.

[darrin1471] 19/5/2023 14:51

I had intended to top slice before the end of year update, but took my eye off the ball as the price kept on rising.
Results for YE23 were slightly better than expected. We knew the FY23 was weighted to the first half due to the early delivery of Christmas orders.
What concerned me was the outlook. "FY24 to present demand and pricing challenges". This is concerning because orders will already be in for Christmas 2023. They are not forecasting but reporting future sales. Supply chain bottlenecks have been resolved so there has to be a risk that early H1 revenue will fall back to their normal position in H2.
H1 YE24 results and profits are likely to be significantly lower than H1 YE23.
With a new CEO and CFO they will be working on a new strategy. I liked the old strategy being executed by Lance Burn, so I see a potential risk there.
Having reflected on the above I feel IGR could drift lower for the rest of the year and have sold IGR.
I will be watching IGR closely and may jump back in if I have made the wrong call.
Good luck all.

[darrin1471] 19/5/2023 13:51

virtual presentation and Q&A for investors at 14:00 on 20(th) June 2023.

[tomps2] 19/5/2023 09:05

IG Design Group (IGR) Full Year results webinar

IGR Chair, Stewart Gilliland and CEO, Paul Bal will present Full Year results for the year ended 31 March 2023, followed by Q&A.

Register here: bit.ly/IGR_FY_results_webinar

[darrin1471] 05/5/2023 08:01

"Appointment of Rohan Cummings as Chief Financial Officer, effective from 3(rd) July 2023"

Paul Bal and Rohan Cummings are likely to of known of each other as Paul was running the international drinks business Stock Spirits at the same time as Rohan was CFO at Asahi Europe and Asahi International.

[darrin1471] 04/5/2023 09:33

Since November 2022 Canaccord have moved from 5% to 16%
About 50% of IGR held by Hedlund, Canaccord, Octopus and Fidelity.

[time 2 retire] 04/5/2023 07:09

CANACCORD GENUITY added nearly another million shares to their holding.

[darrin1471] 02/5/2023 18:56

Significantly higher volume of 700k+ went through at 170.5p today.
Understandable a seller may want to take profits at this level and positive that a buyer sees an upside from here.

[se81] 26/4/2023 07:39

From the telegraph yesterday

[blackhorse23] 24/4/2023 10:32

Next GATC , share price will be over 200p in few weeks

[fegger] 20/4/2023 15:23

I'm out. Refinancing will be more expensive than previous deal. These are going to slide over the rest of 2023 because they wont be able to show much progress this year.Will look to get back in at lower level.

[se81] 20/4/2023 11:08

And Progressive leave FY23 & FY24 forecasts unchanged…interesting

[aleman] 20/4/2023 10:57

They're rationalising an acquisition and dropping loss-making contracts resulting in margins beating expectations! Ignoring the non-cash write-down, results are going to be ahead of forecasts. Their markets were already challenging in the last year.

[justiceforthemany] 20/4/2023 10:44

Even on an adjusted basis this is barely making a profit! Caution and deteriorating trading everywhere in that statement.

[wall street trader] 20/4/2023 09:46

They need shares to fill a big order is how they work - best way is to panic holders